The stakeholder theory of corporate social responsibility quizlet

Stakeholder theory stipulates company's responsibilities to all their stakeholders. - such as responsibility to customers, responsibility to employees, responsibility to. financiers, responsibility to suppliers, and responsibility to communities.

Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.

Corporate social responsibility is a business model by which companies make a concerted effort to operate in ways that enhance rather than degrade society and the environment. CSR helps both improve various aspects of society as well as promote a positive brand image of companies.

CSR aligned with stakeholder theory generates the maximum benefits in the form of societal development as well as creating a motivated workforce, better company branding, larger sales and profitability, satisfied customers, etc (Nikolova & Arsić, 2017).